MPM344 Project Risk Management Project Name Your Name Date NOTE: The highlighted instructions should be followed while you work and deleted after the information is added. 2 Table of Contents Project Outline ................................................................................................................................ 3 Project Description...................................................................................................................... 3 Method (Agile or Waterfall) ....................................................................................................... 3 Overall Risk Management Strategy ............................................................................................ 3 Risk Categories ........................................................................................................................... 3 Project Risk Identification .............................................................................................................. 4 Project Risks ............................................................................................................................... 4 Risk Register ............................................................................................................................... 4 Project Risk Analyses ..................................................................................................................... 5 Qualitative Risk Analysis ........................................................................................................... 5 Quantitative Risk Analysis ......................................................................................................... 5 Project Risk Response Strategy ...................................................................................................... 6 Risk Response Strategy............................................................................................................... 6 Project Risk Controlling ................................................................................................................. 7 Plan for Reviewing Risk Responses ........................................................................................... 7 Identification of New Risks ........................................................................................................ 7 Project Risk Communications Plan ................................................................................................ 8 Communications Matrix ............................................................................................................. 8 Memo to the Project Sponsor ...................................................................................................... 8 References ....................................................................................................................................... 9 3 Project Outline Project Description The project description should be an overview of the project. Method (Agile or Waterfall) Describe the method (agile or waterfall) that you will use in your project. Overall Risk Management Strategy Discuss an overall strategy for determining risks in your project and how you will continue to review risks. Risk Categories Determine the high-level categories in which risks can occur in your project, such as technological, financial, vendor, internal, customer, and so on. 4 Project Risk Identification Project Risks Describe at least 5 risks that can occur in your project based on the categories you determined in Unit 1. Risk Register List the risks in the Risk Register, provide detailed descriptions of the risks, and discuss the potential impacts on the project if the risk events occur. Risk Category Description of Risk Potential Impact on Project 5 Project Risk Analyses Qualitative Risk Analysis Perform a qualitative risk analysis on the risks, and determine the priority of the risks using the probability and impact matrix. Risk Probability of Occurrence Potential Impact Quantitative Risk Analysis Perform a quantitative risk analysis on the risks that have been prioritized, and complete the quantitative risk analysis results matrix. Risk Probability of Occurrence Potential Impact 6 Project Risk Response Strategy Risk Response Strategy Describe the risk response strategies for each of your risks. Risk Risk Response Strategy Description of Risk Response 7 Project Risk Controlling Plan for Reviewing Risk Responses Discuss your plan for reviewing the risk responses. Identification of New Risks Discuss the plan for identifying new risks in your project. 8 Project Risk Communications Plan Communications Matrix Complete the communications matrix for discussing risk elements with your stakeholders. Stakeholder Risk Content Method Frequency Memo to the Project Sponsor Write a memo to the project sponsor describing the risk approach, the appropriateness of the risk identification process, an overview of the risk analyses activities, the responses strategies you did not use, and improvement ideas. 9 References Project Management Institute. (2009). Practice standard for project risk management. [Vitalsource version]. Retrieved from https://online.vitalsource.com/#/books/9781933890388/cfi/0!/4/4@0.00:0.00 Project Management Institute, A guide to the project management body of knowledge (PMBOK® guide), Fifth Edition, Project Management Institute Inc. 2013. [Vitalsource version]. Retrieved from https://online.vitalsource.com/#/books/9781935589815/cfi/0
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